Latest news with #PGEs
India.com
6 days ago
- Business
- India.com
India hits jackpot! This Indian State set to become super rich as massive Nickel-Copper-PGE deposits found in.., will change...
Raipur: Deccan Gold Mines Limited (DGML) has discovered a Nickel-Copper-Platinum Group Element (Ni-Cu-PGE) minerals deposit, strategically important for green energy and high-tech applications, in Chhattisgarh's Mahasamund district, officials said on Tuesday, news agency PTI reported. The discovery is a crucial step towards securing vital mineral resources for the state and the nation, said Chief Minister Vishnu Deo Sai, adding that it aligns with the Atmanirbhar Bharat mission, promoting self-reliance and sustainable development in strategic sectors. 'This discovery is not just a scientific success but a strategic leap forward. With growing global demand for green and high-tech applications, critical minerals like nickel and PGEs are the backbone of future technologies,' P Dayanand, secretary, Department of Mineral Resources, was quoted as saying by news agency PTI. Where exactly were these massive mineral reserves discovered? In a release, the company stated that the breakthrough is being seen as a major step in unlocking the potential of critical and strategic minerals in the state. The DGML, a gold and critical minerals resource company, secured a 30 square km Composite Licence (permission that allows the firm to first search for minerals and then mine them) for the Bhalukona-Jamnidih block in Basana tehsil on April 1. Why is this discovery a game changer for India's economy? Earlier, the Geological Survey of India (GSI) had conducted G4-level exploration of the block and identified promising mineralization of Nickel, Chromium, and PGEs. Building on this foundation, the Directorate of Geology and Mining (DGM), Chhattisgarh validated the geo-scientific data and proceeded with an e-auction process, it said. The DGML secured the block through an auctioning process on March 6, 2023. As per the company, the preliminary findings are encouraging, with a 700-meter-long mineralized zone identified in prospective mafic-ultramafic rock formations. Furthermore, Geophysical data indicate the presence of sulphide mineralization up to a depth of 300 meters, suggesting substantial mineral potential in the area, it added. Adjacent to this discovery zone lies the Kelwardabri Ni, Cr and PGE Block, which was earlier auctioned to Vedanta Limited. The two blocks together are expected to emerge as a high-potential critical mineral hub in Mahasamund, placing Chhattisgarh on the strategic mineral development map of India, the release said. The discovery comes at a time when the state is actively pursuing an ambitious mineral exploration roadmap for 2024-25, with over 50 per cent of the planned projects dedicated to critical and strategic minerals, it said. The release stated that so far, Chhattisgarh has successfully auctioned 51 mineral blocks, which includes 10 blocks of key resources such as graphite, nickel, chromium, PGEs, lithium, glauconite, phosphorite and graphite-vanadium. In addition, six tin blocks have been submitted to the Union Ministry of Mines, for auction in the near future. To institutionalize efforts in this direction, the DGM Chhattisgarh has set up a dedicated Critical Mineral Cell aimed at providing expert guidance and promoting collaboration with academic, research, and industry institutions to enable advanced exploration and beneficiation of these resources, it added. (With PTI Inputs)
Time of India
13-05-2025
- Business
- Time of India
Vedanta shares in focus amid critical mineral exploration, expansion plans
Vedanta shares are expected to be in focus on Tuesday, May 13, as the company is exploring critical mineral assets across key Indian states, including Maharashtra, Rajasthan, Bihar, Arunachal Pradesh, Karnataka, and Chhattisgarh. The company announced its strategic focus on expanding its mineral footprint, targeting essential resources such as copper, nickel, cobalt, chromium, vanadium, tungsten, and Platinum Grade Elements (PGEs). This initiative is aligned with India's policy thrust on mineral security, aiming to bolster the supply of critical minerals for rapidly growing sectors such as electric vehicles and renewable energy. Vedanta secured four blocks in the fourth round of the critical mineral blocks auction, with acquisitions including vanadium and graphite in Arunachal Pradesh, a polymetallic mine in Karnataka, and tungsten-related assets in Andhra Pradesh and Tamil Nadu. Additionally, Vedanta's subsidiary, Hindustan Zinc Ltd . (HZL), won a tungsten and associated minerals block in Andhra Pradesh. The company is also expanding its aluminium capacity with a $1.5 billion investment aimed at enhancing smelter operations and increasing the production of value-added products. Furthermore, Vedanta is ramping up its zinc alloy production with a 30,000-tonne per annum plant, highlighting its focus on high-margin businesses. Anil-Agarwal-led Vedanta, a subsidiary of Vedanta Resources, is a global conglomerate specializing in natural resources and technology with operations spanning India, South Africa, Liberia, and Namibia. The company's portfolio is diversified across sectors such as Oil & Gas, Zinc-Lead-Silver, Aluminium, Iron Ore, Steel, Copper, Ferro Alloys, Power, Nickel, Semiconductors, and Glass. Vedanta share price performance Over the past year, the shares of Vedanta registered a gain of 6.12%, while the year-to-date (YTD) change indicates a decline of 1.91%. The six-month period recorded a drop of 2.02%, whereas the three-month duration posted a gain of 3.31%. Meanwhile, the one-month period saw a substantial rise of 14.62%. Vedanta shares closed 6.9% higher at Rs 435.90 on the BSE on Monday. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
12-05-2025
- Business
- Time of India
Vedanta exploring critical mineral assets in Maharashtra, Rajasthan, other states
New Delhi, Anil-Agarwal-led Vedanta has said it is exploring critical mineral assets in states like Maharashtra, Rajasthan, Bihar, Arunachal Pradesh, Karnataka and Chhattisgarh. Critical minerals are essential for many rapidly growing energy-efficient technologies ranging from wind turbines and electricity networks to electric vehicles . Demand for these materials is growing quickly as energy transitions gather pace. In a statement Vedanta said "the company is building its critical minerals footprint, exploring copper, nickel, cobalt, chromium, vanadium, tungsten and Platinum Grade Elements (PGEs) across states like Maharashtra, Rajasthan, Bihar, Arunachal Pradesh, Karnataka, and Chhattisgarh, supported by India's policy push for mineral security". Vedanta Group won four blocks in the fourth round of critical mineral blocks auction. While Vedanta bagged vanadium and graphite mine in Arunachal Pradesh, cobalt, manganese and iron (poly-metal) mine in Karnataka, Hindustan Zinc Ltd (HZL) -- a subsidiary of Vedanta -- won tungsten and associated minerals block in Andhra Pradesh and a tungsten mine in Tamil Nadu. The company further said that Vedanta is expanding its value-added products for zinc and aluminium products. The company has forayed into zinc alloys with a 30,000 tonnes per annum plant. For its aluminium capacity expansion, Vedanta's board had approved about USD 1.5 billion, including a smelter expansion (for additional aluminium production) and increased value-added product capacity at its flagship aluminium plants. Vedanta produces four most widely used metals in the world -- iron (for steel production), aluminium, copper and zinc.
Time of India
12-05-2025
- Business
- Time of India
Vedanta ramps up search for critical minerals across 6 states amid energy transition push
Anil Agarwal-led Vedanta Ltd on Sunday said it is actively exploring critical mineral resources across six Indian states — Maharashtra, Rajasthan, Bihar, Arunachal Pradesh, Karnataka, and Chhattisgarh — as it looks to strengthen its position in the fast-growing clean energy value chain . Critical minerals are vital for a wide range of energy-efficient technologies, including electric vehicles, wind turbines, and modern electricity grids. With the global energy transition accelerating, demand for these materials is rising rapidly, as reported news agency PTI. In a statement, Vedanta said, "The company is building its critical minerals footprint, exploring copper, nickel, cobalt, chromium, vanadium, tungsten and Platinum Grade Elements (PGEs) across states like Maharashtra, Rajasthan, Bihar, Arunachal Pradesh, Karnataka, and Chhattisgarh, supported by India's policy push for mineral security." As part of its efforts, Vedanta Group secured four mineral blocks in the fourth round of critical mineral auctions. The company bagged a vanadium and graphite block in Arunachal Pradesh and a cobalt, manganese, and iron (poly-metallic) block in Karnataka. Its subsidiary, Hindustan Zinc Ltd (HZL), won a tungsten block in Andhra Pradesh and another in Tamil Nadu. Vedanta is also expanding its value-added product portfolio in zinc and aluminium. The company has recently forayed into zinc alloys with a new plant having a capacity of 30,000 tonnes per annum. For aluminium, the board has approved an investment of around USD 1.5 billion. The funds will go toward smelter expansion and enhancing capacity for value-added products at its flagship aluminium facilities. Vedanta is one of the few global players that produce four of the world's most widely used metals — iron (for steel), aluminium, copper, and zinc. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
12-05-2025
- Business
- Time of India
Vedanta exploring critical mineral assets in Maharashtra, Rajasthan, other states
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Anil-Agarwal-led Vedanta has said it is exploring critical mineral assets in states like Maharashtra, Rajasthan, Bihar, Arunachal Pradesh, Karnataka and Chhattisgarh. Critical minerals are essential for many rapidly growing energy-efficient technologies ranging from wind turbines and electricity networks to electric vehicles. Demand for these materials is growing quickly as energy transitions gather a statement Vedanta said "the company is building its critical minerals footprint, exploring copper, nickel, cobalt, chromium, vanadium, tungsten and Platinum Grade Elements (PGEs) across states like Maharashtra, Rajasthan, Bihar, Arunachal Pradesh, Karnataka, and Chhattisgarh, supported by India's policy push for mineral security".Vedanta Group won four blocks in the fourth round of critical mineral blocks Vedanta bagged vanadium and graphite mine in Arunachal Pradesh, cobalt, manganese and iron (poly-metal) mine in Karnataka, Hindustan Zinc Ltd (HZL) -- a subsidiary of Vedanta -- won tungsten and associated minerals block in Andhra Pradesh and a tungsten mine in Tamil company further said that Vedanta is expanding its value-added products for zinc and aluminium company has forayed into zinc alloys with a 30,000 tonnes per annum its aluminium capacity expansion, Vedanta's board had approved about USD 1.5 billion, including a smelter expansion (for additional aluminium production) and increased value-added product capacity at its flagship aluminium produces four most widely used metals in the world -- iron (for steel production), aluminium, copper and zinc.
